Indonesia: FX Reserves dropped in March – UOB

Economist at UOB Group Enrico Tanuwidjaja reviews the latest FX Reserves figures in Indonesia.

Key Takeaways

“Indonesia’s foreign exchange reserves decreased to USD139.1bn in March 2022; down by USD 2.3bn from the previous month.”

“The latest reserve level was equivalent to finance 7.2 months of import or 7.0 months of imports and servicing the government’s external debt. This is still well above the international adequacy standard of around 3 months of imports.”

“Bank Indonesia views that the official reserve assets will remain adequate, along with several accommodative policies to support long-term economic recovery.”